Zacks: Analysts Anticipate Arrow Electronics, Inc. (NYSE:ARW) to Post $1.77 Earnings Per Share
Wall Street brokerages expect that Arrow Electronics, Inc. (NYSE:ARW) will post earnings per share (EPS) of $1.77 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Arrow Electronics’ earnings, with estimates ranging from $1.76 to $1.78. Arrow Electronics posted earnings of $1.65 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.3%. The business is expected to issue its next quarterly earnings results on Tuesday, August 1st.
According to Zacks, analysts expect that Arrow Electronics will report full year earnings of $7.12 per share for the current fiscal year, with EPS estimates ranging from $7.02 to $7.25. For the next year, analysts anticipate that the business will report earnings of $7.79 per share, with EPS estimates ranging from $7.64 to $7.94. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Arrow Electronics.
Arrow Electronics (NYSE:ARW) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.02. The firm had revenue of $5.76 billion for the quarter, compared to analyst estimates of $5.58 billion. Arrow Electronics had a net margin of 2.20% and a return on equity of 13.59%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 earnings per share.
ARW has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on Arrow Electronics from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Zacks Investment Research raised Arrow Electronics from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Arrow Electronics has a consensus rating of “Hold” and an average price target of $73.17.
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In other news, insider Sean J. Kerins sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $75.99, for a total transaction of $227,970.00. Following the completion of the transaction, the insider now directly owns 21,736 shares in the company, valued at $1,651,718.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vincent P. Melvin sold 5,760 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $75.79, for a total value of $436,550.40. Following the transaction, the insider now owns 22,213 shares of the company’s stock, valued at $1,683,523.27. The disclosure for this sale can be found here. Insiders have sold 28,233 shares of company stock valued at $2,148,561 over the last 90 days. 1.20% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans increased its position in shares of Arrow Electronics by 7.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,340 shares of the technology company’s stock worth $1,094,000 after buying an additional 1,120 shares during the period. Numeric Investors LLC acquired a new stake in shares of Arrow Electronics during the fourth quarter worth $328,000. Macquarie Group Ltd. increased its stake in shares of Arrow Electronics by 70.4% in the fourth quarter. Macquarie Group Ltd. now owns 4,600 shares of the technology company’s stock worth $328,000 after buying an additional 1,900 shares during the last quarter. Denali Advisors LLC increased its stake in shares of Arrow Electronics by 56.6% in the first quarter. Denali Advisors LLC now owns 152,545 shares of the technology company’s stock worth $11,198,000 after buying an additional 55,141 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in shares of Arrow Electronics by 1.7% in the first quarter. Gulf International Bank UK Ltd now owns 31,061 shares of the technology company’s stock worth $2,280,000 after buying an additional 520 shares during the last quarter. Institutional investors own 94.47% of the company’s stock.
Arrow Electronics (ARW) opened at 82.33 on Thursday. The company’s 50-day moving average is $78.18 and its 200 day moving average is $74.47. Arrow Electronics has a 12 month low of $58.51 and a 12 month high of $82.50. The company has a market cap of $7.31 billion, a price-to-earnings ratio of 14.18 and a beta of 1.13.
About Arrow Electronics
Arrow Electronics, Inc is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The Company has a portfolio of product offerings available from various electronic components and enterprise computing solutions suppliers.
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